The Big Payoff for Drilling the Perfect Well

Statoil has reported that it is possible, with the right organization and incentives, to drill the “perfect” well.

And when that happened it was time to redefine perfect.

In this case, perfect was defined as the most ambitious target time for drilling eight wells in Statoil’s Johan Sverdrup field.

While that discovery was one of the largest ever in the Norwegian North Sea, with oil prices around USD 50/bbl the Norwegian national oil company still needed to significantly reduce the cost of drilling to profitably develop the field.